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Jan 6, 2013
01/13
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and particularly, the layer of the story about the level of partisanship in this congress that didn't get enough attention which is we focused on all the places where it was extremely partisan and all the data shows increasing polaration and the debt ceiling fight and domestic policy and the violence against women act totally bipartisan pieces of legislation left to die over partisan obstruction. once you turn your attention to the national security area and civil liberties and things like that it's been a bipartisan enterprise. a lot of legislation has come out of the congress not passed by 61 or 62 but 85 or 90 reasons. and this is an area, there was something you were going to say before we got to break and i rudely interrupted you. >> i have to respond to the point that fear is sort of used as a way to push these things through and i think that, yes, i think sometimes fear is used as a way to get what people in the executive or people in congress want to do anyway. but i actually, i take them at their word. i think dianne feinstein is very worried about another terrorist attack. g
and particularly, the layer of the story about the level of partisanship in this congress that didn't get enough attention which is we focused on all the places where it was extremely partisan and all the data shows increasing polaration and the debt ceiling fight and domestic policy and the violence against women act totally bipartisan pieces of legislation left to die over partisan obstruction. once you turn your attention to the national security area and civil liberties and things like that...
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Jan 4, 2013
01/13
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CNBC
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the debt ceiling is the next fiscal cliff and the congress now has two months to act. joining us now is benjamin salisbury. he's the senior policy analyst at fpr capital markets. good morning to you. >> good morning. thanks for having me. >> there's a cover on the economist today that talks about what just happens, says america is turning european. why should developing countries trust american leadership when it seems incapable of solving anything at home? whoot while the west foremost democracies stay paralyzed, china is making decisions in moving ahead. this week president obama claimed that the fulfilled his mandate by raising taxes on the rich. he and his leaders are building brussels on the potomac. a, do you believe that? and how important is that? and, b, is that going to get fixed anytime soon in terms of the next two months in terms of how we are being perceived? >> so i don't think the analogy is especially helpful, but the fundamental facts are as described. so i think what's important is as we look at the next couple of months, congress is going to be focu
the debt ceiling is the next fiscal cliff and the congress now has two months to act. joining us now is benjamin salisbury. he's the senior policy analyst at fpr capital markets. good morning to you. >> good morning. thanks for having me. >> there's a cover on the economist today that talks about what just happens, says america is turning european. why should developing countries trust american leadership when it seems incapable of solving anything at home? whoot while the west...
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Jan 12, 2013
01/13
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republicans are once again threatening to hold the debt ceiling hostage as they did in the summer of 2011. they will not raise the amount they can borrow. we're already slated for european levels of austerity this year. if no deal is reached, the u.s. has to start stiffing its creditors, deciding how to prioritize payments which will cause markets to freak and interest rates to spike. enter the coin. it turns out there is a subsection of the u.s. code called dominations specifications and design of coins that includes the following profession. the secretary may mint and issue platinum coins and proof platinum coins in accordance with such denominations may prexrip from time to time. the original intent of this legislation is to give the secretary of the treasury latitude to issue kmemtive coins for collectors but the plain meaning of the statute is clear. they can issue a platinum coin in any domination as the secretary of the treasury designates. the idea of trillion dollar coin advocates is the president would direct the treasury to mint a trillion dollar coin and deposit it in the
republicans are once again threatening to hold the debt ceiling hostage as they did in the summer of 2011. they will not raise the amount they can borrow. we're already slated for european levels of austerity this year. if no deal is reached, the u.s. has to start stiffing its creditors, deciding how to prioritize payments which will cause markets to freak and interest rates to spike. enter the coin. it turns out there is a subsection of the u.s. code called dominations specifications and...
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Jan 5, 2013
01/13
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the debt ceiling is the legal limit on the nation's borrowing. in his weekly address, the president says he is taking a hard line on the issue. >> one thing i will not compromise over is whether or not congress should pay the tab for the bill they've already racked up. if congress refuses to give the united states the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic. last time congress threatened this course of action, our entire economy suffered for it. our families and our businesses cannot afford that dangerous game again. >> as you would expect, republicans are also drawing a line despite approving the fiscal cliff compromise. gop lawmakers say it was missing something monumental -- long-term spending cuts. here's a clip of their weekly address. >> the simple truth is that we are in this fiscal mess because washington takes too much of your money and then waists it -- then wastes it. that's the real problem and needs a real solution. we have to make sure washington is accountable for every
the debt ceiling is the legal limit on the nation's borrowing. in his weekly address, the president says he is taking a hard line on the issue. >> one thing i will not compromise over is whether or not congress should pay the tab for the bill they've already racked up. if congress refuses to give the united states the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic. last time congress threatened this course of action, our entire...
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is set to hit the debt ceiling in about two months and the big question will the new congress do better with deadlines than the old once. i will give you an answer and my next guest is cautiously optimistic. here is allison frazier, from the heritage foundation. allison, thanks for joining us. you're cautiously optimistic. what the heck is that based on because i don't think there is any optimism when you're talking about congress? >> i think we have a breathe a little sigh of relief we made it through the fiscal cliff and very disappointed we had a major tax hike and we didn't go over the cliff and nothing really, really bad happened. i totally does agree on the need for the tax hike. the simple fact that obama campaigned on it. he campaigned on a balanced approach. he got it. he got his tax hike. it is time to close the books on that. and what he now must deliver is the balance to his balanced approach in the form of spending cuts. that is why i am cautiously optimistic we will have some progress on that. ashley: you know, that is interesting because during the tax hike debate there w
is set to hit the debt ceiling in about two months and the big question will the new congress do better with deadlines than the old once. i will give you an answer and my next guest is cautiously optimistic. here is allison frazier, from the heritage foundation. allison, thanks for joining us. you're cautiously optimistic. what the heck is that based on because i don't think there is any optimism when you're talking about congress? >> i think we have a breathe a little sigh of relief we...
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Jan 10, 2013
01/13
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essentially, if we -- if congress is unable to come up with a way to avoided hitting the debt ceiling, the idea is that basically we could mint a trillion dollar coin and give it to treasury and they could tuesday to pay off our -- to cover our debt obligations and then we wouldn't need to worry about the debt ceiling anymore. it sounds absurd and there's a lot of people who are hoping that the life-span of the story goes on for awhile because it is ridiculous. but it turns out that there is an obscure 1990s law that does, in fact, allow the treasury department to do this. so it is not completely made up. but it is -- the idea that this is how it would take care of our debt obligations with a coin, is pretty -- i mean what next? >> bill: isn't this sort of like inflation? you know. like when you read about these countries at one time that would have -- it would cost you a trillion dollars to get a coke or something like that. when their money went -- isn't that what happens? >> i was reading about this. before i was reporting on it and it appears it wouldn't have much of an effect on
essentially, if we -- if congress is unable to come up with a way to avoided hitting the debt ceiling, the idea is that basically we could mint a trillion dollar coin and give it to treasury and they could tuesday to pay off our -- to cover our debt obligations and then we wouldn't need to worry about the debt ceiling anymore. it sounds absurd and there's a lot of people who are hoping that the life-span of the story goes on for awhile because it is ridiculous. but it turns out that there is an...
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Jan 4, 2013
01/13
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honestly, if congress continues to push the political crises where we go into another debt ceiling crisis, it is possible it could still be derailed. if there is not a giant political crisis, there should be good reason to think that jobs will pick up in 2013. host: marilyn geewax, sr. business editor for npr. our line for unemployed. caller: do you think that allowing companies -- i know the government cannot do much in a way of drafting policy or legislation that prevents companies from using a background checks and credit history do not hire people -- i will be honest with you. in our current situation, maybe doing something in the way of incentivizing companies to hire people with these histories, wouldn't that help to bring these unemployment numbers up? guest: you have touched on a big issue here. there are a lot of people -- we have got 3.6 million job openings right now. there are lots of jobs that could be filled, if people have the right training or the right resumes. let's say that your credit history is bad. that works against you. they cannot get into these millions of open j
honestly, if congress continues to push the political crises where we go into another debt ceiling crisis, it is possible it could still be derailed. if there is not a giant political crisis, there should be good reason to think that jobs will pick up in 2013. host: marilyn geewax, sr. business editor for npr. our line for unemployed. caller: do you think that allowing companies -- i know the government cannot do much in a way of drafting policy or legislation that prevents companies from using...
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Jan 10, 2013
01/13
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as i mentioned, congress and the administration are soon to face new critical deadlines around the debt ceiling, sequestration, and the need to fund government operations. these deadlines will mean more uncertainty for our economy, our businesses, and for financial markets at home and abroad. as they address these deadlines, policymakers must seize the opportunity to make real progress in the areas they neglected in the fiscal cliff deal. first and foremost, that means controlling deficit spending through common sense entitlement reform. the last debt ceiling increase was passed in august of 2011. here we are 17 months later and the $2.1 trillion is gone, kaput. and now we need another increase. how much longer can this kind of spending go on? as a nation, we must finally face up to the single biggest threat to our economic future -- and that is our exploding national debt driven by runaway deficit spending, changing demographics, and unsustainable entitlements. if we fail to address this threat, automatic spending will soon consume every dollar the federal government collects, leaving
as i mentioned, congress and the administration are soon to face new critical deadlines around the debt ceiling, sequestration, and the need to fund government operations. these deadlines will mean more uncertainty for our economy, our businesses, and for financial markets at home and abroad. as they address these deadlines, policymakers must seize the opportunity to make real progress in the areas they neglected in the fiscal cliff deal. first and foremost, that means controlling deficit...
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Jan 10, 2013
01/13
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the debt ceiling and more among the jobs here, negotiate a debt ceiling and sequester deal with congress, or if you don't do that figure out thousand run the government without debt. an interesting job. also on that agenda, fixing long term entitlements. as well as the broader thing which geithner has been working on, but hasn't really pulled the trigger on, corporate and individual tax reform. let's broaden it out because there's a local other area especially in the wake of the financial crisis. the global finance job. who is the treasury secretary? he's the guy you need to stand up during the next meltdown. second thing, dodd-frank remains out there, unfinished regulations. basil 3. fannie mae and freddie mac as well as more on too big to fail. that's some of the new stuff. how about the old stuff in not an easy job either. he's the main spokesman for the greenback. he will negotiate with china and other partners, as well. and then he's the representative when it comes to the g-20, the imf, world bank and of course what about that other thing, he is the liaison with the business commun
the debt ceiling and more among the jobs here, negotiate a debt ceiling and sequester deal with congress, or if you don't do that figure out thousand run the government without debt. an interesting job. also on that agenda, fixing long term entitlements. as well as the broader thing which geithner has been working on, but hasn't really pulled the trigger on, corporate and individual tax reform. let's broaden it out because there's a local other area especially in the wake of the financial...
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Jan 7, 2013
01/13
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it is not the president's response ability to pass legislation to raise the debt ceiling. it is congress. he will not engage in an association and with congress that they have described as a hostage situation that would result as it did in the summer of 2011, in great harm to this economy and to american business. it is not the right thing to do. if you are to travel down that road for any time, let me remind you it the position of republicans in congress will be that your choice america is between default and economic chaos. the american people are going to say no. this is not the right to say no. that tahiti irresponsibility is. that includes paying for the -- that includes responsibilities. it is congress's response ability pay its bills. when you get a credit card bill you pay it. if you do not you get penalized. in the case of not paying your bills when you are the united states congress the penalty is both real and severe for the economy and american people. the president will not negotiate over congress for the response ability to pay for their own bills. he did not
it is not the president's response ability to pass legislation to raise the debt ceiling. it is congress. he will not engage in an association and with congress that they have described as a hostage situation that would result as it did in the summer of 2011, in great harm to this economy and to american business. it is not the right thing to do. if you are to travel down that road for any time, let me remind you it the position of republicans in congress will be that your choice america is...
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Jan 10, 2013
01/13
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ceiling, possibly even jolting the financial markets as a result. >> so what are the predictions? >> most experts say it's really unlikely but no one is saying impossible. president obama is probably going to have his back to the wall with the debt ceiling for a while and they point out that the white house is giving up one weapon. they've already said that they will not use this invoking of the 14th amendment, the amendment requiring the president not to put the validity of the public debt into question. the white house says it will not use it to avoid this. that's one weapon that they are giving up. so this thing that we're seeing in the pictures here and making so much fun of is still a political weapon for the president, not ruling it out. >> thanks very much, brian todd, for that update. >>> the oscar nominations are now out. who's been left off the list is just as interesting as who is in the running. >> for best performance for act stre in a leading role -- store in the freezer. same medicated pain reliever used by physical therapists. that's
ceiling, possibly even jolting the financial markets as a result. >> so what are the predictions? >> most experts say it's really unlikely but no one is saying impossible. president obama is probably going to have his back to the wall with the debt ceiling for a while and they point out that the white house is giving up one weapon. they've already said that they will not use this invoking of the 14th amendment, the amendment requiring the president not to put the validity of the...
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Jan 11, 2013
01/13
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host: what do you think about the idea of using the debt ceiling as a starting point to talk about budgets and spending? guest: there is no question that congress is in a brittle debate at the end of last year over taxes. you have heard the speaker and senator mcconnell said, we are done with that. now, it is time to move to the spending. the debt ceiling, i have always thought the country is not going to not pay its bills. we will not not pay interest on money we have borrowed. is there a point of leverage? that is subject to debate. i think the sequestration and continuing resolution -- the other thing we have is the budget resolution for 2014. you might as well look at them together. there are colliding any way. i would hope that we could get some success of in negotiations to vote now for changes and 30 or 40 years will make a difference. host: john engler joining us until 8:30. talking to us about ceos and taking a look at their thoughts on the budget and federal spending. if you want to join in the conversation, the members will be on your screen. -- the numbers will be on your scree
host: what do you think about the idea of using the debt ceiling as a starting point to talk about budgets and spending? guest: there is no question that congress is in a brittle debate at the end of last year over taxes. you have heard the speaker and senator mcconnell said, we are done with that. now, it is time to move to the spending. the debt ceiling, i have always thought the country is not going to not pay its bills. we will not not pay interest on money we have borrowed. is there a...
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Jan 8, 2013
01/13
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jon: a group of democrats is calling on president obama to ignore the legal debt ceiling and barrow more morning without the consent of congress. they've signed a letter endorsing this drastic and legally questionable action, arguing the president could invoke the 14th amendment to raise the debt limit if republicans stand in his way. quote, in the event the speaker, that is speaker john boehner follows through on his reckless threat, they write. we would support your use of any authority available to you including the 14th amendment to preserve america's full faith and credit and preserve further damage to our economy. a new gallop poll says 77% of americans say washington politics is causing serious harm to the nation. let's talk about it with steven hayes a writer for "the weekly standard" and a fox news contributor. this would give the president unlimited power to raise the debt ceiling any time he wanted because he deems it in theest interest of the country? >> it would indeed. there is another proposal that's been floated out there that suggest -gs that the president mint a trillio
jon: a group of democrats is calling on president obama to ignore the legal debt ceiling and barrow more morning without the consent of congress. they've signed a letter endorsing this drastic and legally questionable action, arguing the president could invoke the 14th amendment to raise the debt limit if republicans stand in his way. quote, in the event the speaker, that is speaker john boehner follows through on his reckless threat, they write. we would support your use of any authority...
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Jan 10, 2013
01/13
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CNN
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i should say the debt ceiling negotiation of 2011 and most recently the fiscal cliff negotiation, the grand bargain that ultimately didn't work. we saw a more short-term, smaller measure pass recently in congress. but we expect for president obama to emphasize jack lew's time not only as being the chief of staff most recently but also being his budget director throughout this process. we've also been talking, wolf, as you know, about some of the criticism coming from across the aisle from some republicans. it's been reported in bob wood war's book about the obama administration, "the price of politics." criticism from the speaker, speaker boehner, about jack lew as being uncompromising and being someone that he didn't find he could negotiate with and come to a deal with in these past discussions. so there's that, but i'll also tell you it reminds me talking about that that when jack lew was announced as chief of staff to replace bill daly that one of the things we heard was it was welcome news to democrats on the hill. they had felt that daly had not been terribly responsive even to t
i should say the debt ceiling negotiation of 2011 and most recently the fiscal cliff negotiation, the grand bargain that ultimately didn't work. we saw a more short-term, smaller measure pass recently in congress. but we expect for president obama to emphasize jack lew's time not only as being the chief of staff most recently but also being his budget director throughout this process. we've also been talking, wolf, as you know, about some of the criticism coming from across the aisle from some...
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Jan 4, 2013
01/13
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honestly, if congress continues to push the political crises where we go into another debt ceiling crisis, it is possible it could still be derailed. if there is not a giant political crisis, there should be good reason to think that jobs will pick up in 2013. host: marilyn geewax for a long sr. business editor for npr. our line for unemployed. caller: do you think that allowing companies -- i know the government cannot do much in a way of drafting policy or legislation that prevents companies from using a backdrop checks and credit history cannot hire people -- i will be honest with you. -- do not hire people -- i will be honest with you. in our current situation, maybe doing something in the way of incentivizing companies to hire people with these histories, with and that helped to bring these unemployment numbers up? -- wouldn't that help to bring these unemployment numbers up? guest: to have touched on a big issue here. there are a lot of people -- we have got 3.6 million job openings right now. there are lots of jobs that could be filled, if people have the right training or the righ
honestly, if congress continues to push the political crises where we go into another debt ceiling crisis, it is possible it could still be derailed. if there is not a giant political crisis, there should be good reason to think that jobs will pick up in 2013. host: marilyn geewax for a long sr. business editor for npr. our line for unemployed. caller: do you think that allowing companies -- i know the government cannot do much in a way of drafting policy or legislation that prevents companies...
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Jan 5, 2013
01/13
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as well as congress to production before we can have agreement to raise the debt ceiling. host: i could be the entire piece by eugene robinson, but i will share the first sentence. guest: it's clearly critical. i understand that solutions by nature are imperfect. but the reality is we have got to do these things that we are talking about. we need to do it in a thoughtful, open, transparent way, not. at the last not i think that is what he's referring to. when you do it up against these deadlines, a way to do business. we talked about it earlier. i hope that running into the deadline on the fiscal cliff is something that congress will take into account as we work on the debt ceiling agreement and that we can get it done before the deadline. remember, you have talked about how president obama, speaker boehner will approach these things, we've got to have people talking to each other and we've got to get to solutions before the 11th hour to avoid that. that is absolutely what we can do. host: we agreed to the debt ceiling limit, $16.4 trillion, up in the last hours. guest: th
as well as congress to production before we can have agreement to raise the debt ceiling. host: i could be the entire piece by eugene robinson, but i will share the first sentence. guest: it's clearly critical. i understand that solutions by nature are imperfect. but the reality is we have got to do these things that we are talking about. we need to do it in a thoughtful, open, transparent way, not. at the last not i think that is what he's referring to. when you do it up against these...
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Jan 9, 2013
01/13
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ceiling for the continuing resolution. i think we're going to have an even more difficult 113th 113th congress than the do-nothing 112th congress at that the 112th congress was the nader of congresses. not ralph. eric can't tore wanting to step up it's a shakespeareen type thing. >> cenk: congress has a 9% approval rating. head lice and cockroaches are more popular than congress. do you have a sense from your colleagues obviously you're a democratic you want to discuss gun control. twenty murdered kids, apparently as far as they're telling you didn't do it, they're not going to bring it up. a congresswoman getting shot in the head didn't do it. massacre after massacre didn't do it. is there any amount of murder and mayhem in this country that would actually push the republicans to schedule a vote on this in the house? >> i don't see it, because i really think the republican house membership and the caucus is so far out of touch it's not anything like republicans used to be that were an alternative party and had a moderatin
ceiling for the continuing resolution. i think we're going to have an even more difficult 113th 113th congress than the do-nothing 112th congress at that the 112th congress was the nader of congresses. not ralph. eric can't tore wanting to step up it's a shakespeareen type thing. >> cenk: congress has a 9% approval rating. head lice and cockroaches are more popular than congress. do you have a sense from your colleagues obviously you're a democratic you want to discuss gun control. twenty...
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Jan 7, 2013
01/13
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ceiling. the treasury is slated to lose borrowing power by the end of february unless congress agrees to raise the limit. spending cuts kick out on march 1st to every federal program. on the issue of gun control, the joe biden led tackle force has not reached any plans yesterday but according to "the washington post," the group is considering requiring universal background checks for all gun biers and harsh penalties for carrying guns near schools or giving them to miners. they would track the movement and sales of weapons through the national database. more bill press show coming up after the break. we are live in our chat room. join us there at current.com/billpress. see you there. going to do the young turks. i think the number one thing that viewers like about the young turks is that we're honest. they know that i'm not bs'ing them with some hidden agenda, actually supporting one party or the other. when the democrats are wrong, they know that i'm going to be the first one to call them out
ceiling. the treasury is slated to lose borrowing power by the end of february unless congress agrees to raise the limit. spending cuts kick out on march 1st to every federal program. on the issue of gun control, the joe biden led tackle force has not reached any plans yesterday but according to "the washington post," the group is considering requiring universal background checks for all gun biers and harsh penalties for carrying guns near schools or giving them to miners. they would...